Charlty number: 1172326 ROMFORD BAPTIST CHURCH TRUSTEES. REPORT AND FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 DECEMBER 2021 VINTp/MS
ROMFORD BAPTIST CHURCH CONTENTS Pag8 Reference and Admlnlstratfvg Delall8 of the Charlty, It8 Trustees and Advl$ers Trustees. Report Ind•pendent Audltors, Report on tha Flnanclal Statements Statement of Flnancial Aciiviti•S 3-10 15 Balance Sheet 16 Notes to the Financial SLitements 17-29
ROMFORD BAPTIST CHURCH REFERENCE AND ADMINISTRATIVE DEfAILS OF THE CHARrrY, ITS TRUSTEES AND ADVISERS FOR THE YEAR ENDED 31 DECEMBER 2021 Trust•es H Ayris A Ogunleye Ireslgned 8 March 20211 S Tunde Rev. l J Bunce B Schulte Rev. J R Loveard J E Stannard (Temi Ended 14 June 2021) J J Giwa-majekodunmi N Waldon (Term Ended 30 June 2021) RSEbom Rev. VJ Bunc8 J L Brown K S Yates E O Arowolo (appointed 30 June 2021) S F Johnson (appointed 30 Jung 2021. resigr 14 March 2022) F O Lawani (appointed 30 June 20211 Charity registOTOd numbor 1172326 Prlnclpal offlcfr Main Road Romford Essex RM13BL Independent audltors Venlhams Chartered Aountsnts Millhouse 32 - 38 East Street Rochford Essex SS4 1DB Page 1
ROMFORD BAPTIST CHURCH REFERENCE AND ADMINISTRATIVE DETAILS OF THE CHARITY, ITS TRUSTEES AND ADVISERS (CONTINUED) FOR THE YEAR ENDED 31 DECEMBER 2021 Bankers Royal Bank of Scotland Drummond House PO Box 1727 Edinburgh EH12 9RH Baptist Union Corporation Ltd Baptist House PO Box 44 129 Broadway Oxford OX118RT London Baptisl Property Board Ltd Unit C2 15 Dock Slr8et London E18JN CCLA Senator House 85 Queen Victoria Street London EC4V 4ET Page 2
ROMFORD BAPTIST CHURCH TRUSTEES. REPORT FOR THE YEAR ENDED 31 DECEMBER 2021 The Trustegs present thelr annual report together the audited flnancial 8181ements of the Charity for the 1 January 202110 31 December 2021 The DeaGons1thg Diaconate) of Romford Baptist Church have the responsibility of co-operating wtth the pastors in promoting the wholo misslon of the ChurGh, pastoral, evangellsllc, social and ecumenical in and around Romford, bul also in the wder community and throughout the world. Objectlvos and actlvltles PollGles and objectlves The Gharitys objectives are.. The advancement of the Chrtstian Faith according to the principals of the Baptist denomlnatS0n. Advance education and carry out other charitable purposes in the United Kingdom and other parts of the worfd. The rellef of those In need, by reason of youth, ag8,111-health, finandal hardship or other dlsadvantage. In setllng obleclives and planning for ath'vili88, the Trustees have gSven due consideration lo general guidance published by the Charity Commission relating to public benefil, including tha guldanca 'Publlc benefit.. running a charfty IPB21'. b. A¢tlvltie$ undortaken to achleve objèctlves In fulfilling its purpose the church engages In a range of acliwties whether on Its own or vlth olhers that vary from lime to time with activities belng Initiatèd. expanded or closed, as appropriate. Page 3
ROMFORD BAPTIST CHURCH TRUSTEES. REPORT (CONTINUED} FOR THE YEAR ENDED 31 DECEMBER 2021 ObJectlva8 and a¢tlvltlos (contlnued} c. Maln •ctlvltlès undertaken to further the Charws purpose5 for tho publlc beneflt Annual Report Romford Baptist Churoh's theme for the year 2021 was based on Isaiah 55.'12-13 You will go out In joy and be led forth in p¢aGe', the mountains and hllls wlll burst into song before you, and all the trees of the field wlll clap their hands. 13 Instead of the thombush grow the juniper, and Snstead of briers the My8 wlll grow. Th18 will bo for the Lord's renown. for an everlasting slgn, that wll endure forever. 2021 continued to be a challenging year wlth the continuing pandemic affecting much of what was done as a chur¢h. Wè were however able to keep our morning service open other than for the month of January. During January $8rvices were online only, for the rest of the year they were in person and onllna as well. For the first 6 months of the year there was a severely regtrtcted capacity within the building due lo the Covid restrictions and as a result our congregallons were less than 25Yo of pre covid levels. We dld however continue to have Several hundred online watching from their homes. As the Summer came we were able to see the congregallons start lo build again towards a larger number. At the end of the year we were back to 750h pr8 covid numbers with about 100 continuing to watch on line. Evenlng setvices ramalned on Ilna until September when a new shape of evenlng geTvice began in th6 church th a four week programme around Blble Study, prayer, communlon and coffee began. In September we also restarted our mid-week worship"Pause the week. Throughout the ole pand8mic the Foodbank conttnued each Monday and Ihroughout the week in partnership th other churches. Several groups continued to meet online, The Needlework Group, Tuesday Evening Prayer Group, Worship Group Many of these groups and others were able to return lo in person meetings as the restrictions ended in the summer months. Youth and Chlldren Like the main service8, the youth and Chlldren's programme remalned online for the flrst part of the year and then in person once the summer kicked In. By September our Kids and youth church wore up and running alongside our Youth club programmes and other aclivitl8S. Experlmantal 8ctivities suth as kld church and specials took place In addltlon to our normal programmeg Pastoral Care Pasloral care for people conunued and the pastors undertook to try and remain in touch with members of thg church congregation. A minlmum of 60-80 contacts each weèk were mado via telephone calls, texts and emails. A number of UFxJates were circulated during the year, mostly by email but also by post to those needed it. This was designed to keep people informad of the changes that were happening. Sadly, a number of our members have dled durfng the year, but non8 through Covid. We have also seen a nurnber of frfends move away from the area. We have had some new people join u8 online and we look forward to seeing them in person when we are able to fully reopen. Addltlonal needs As the permlsslons allowed we were able to restart our activities for those wIth additional needs. The leaders of the adult gmups kept in phone contact as much as they were able to Smth each indimdual, whilst the Amazg Parents Support Group ctsntlnued to support each other through regular conversations wa WhatsApp. messaggs and Zoom. P#ge 4
ROMFORD BAPTIST CHURCH TRUSTEES. REPORT (CONTINUED) FOR THE YEAR ENDED 31 DECEMBER 2021 ObJectlv08 and actlvltle8 {contlnuod) Adoptlon Group The adoptton group were unable lo continu9 to meet but remained in contact throughout vla the Wh8tsApp group, thay ar8 very keen lo restart groups as soon as restrlclions allow. New groups have begun lo be run by the Church Includlng a group for adopters, and a mld-weak session for adults with additional needs. Dlsclplèshlp Wednesday'g @ RBC continued on Zoom in ordor for 0p19 to 8ti11 be able to be a parl of a Small group and to grow in Iheir faith together. We participated in courses such as- Th8 Prayer Course 2 and Th8 Wellbelng course. Both of these courses enabled people to grow in their prayer Irf8 and to discover who wa ar8 In God's eyes through The Character Coursg. We held a baptlsmal semce In the autumn with three people confessing Jesus as thelr Lord and Sawour Ihrou9h the waters of Baptlsm. Older generatlon Unfortunately, the work In thls area has changed thls year, for those who are unabla to watch the services online but have access to a DVD player they are provided copies of the evenlng servica lo watch and given hard copies of the weekly notlce sheet. Unfortunately the work In this area also had to stop due to Covid 19. However weekly wnlact was malnlainod with those from Treasure Times through phone calls As soon as we were 8ble we restarted the mid week group Treasure times and also Ihe Holiday at home In person. Thls 18 to conlnue io support our older generation and avoid loneliness. Mlsslon Our Outreach work, the Meeting place resumed rts activifjes in September 2021 with some new staff joinlng Ihe team. We saw 8 numbar of groups partnarfng wllh us Including the Hosplce and local artists. It has been great to $88 a lol of new people joining with us al the meeting place. A new venture that we have been planning for during the Pandemic was launched in September callèd Community Money Advice. a debt support programme. We have tralned 12 volunteers and registered wtth thé FSA to 8UPPOrt P8ople from the community who have debt to help them to get back on their feel. Thls Is an Import8nt part of our mi8810n. The church contlnued to support its missDn pathers including Church 1v23 which has now been serving Harold Hill for over 10 y88rs, Graceworks, Operallon Mobilisation (OMI wth Andy and Rlanna Stannard based In Moldova. It ¢onlinued to sense God's leading as the church explored new ways of connectlng wllh tho community, with a hunger for Ihem lo come to know Jesus. Our Christmas appeal In 2021 was to provido resources and animals to support the work of OM in Moldova. We have built new links with BMS World Mission. supportlng Loul8e and Peter Lynch. working In Bangladesh. We also started to explore links wlh another BMS couple working in Asla. Our Partnership with Wint8r Gardens Baptlst Church contlnued, whereby we hav8 continued to include prayer polnts In our weekly newsletl&r. Thls was a great focus for our work wfth Horno Mission. Page 5
ROMFORD BAPTIST CHURCH TRUSTEES. REPORT (CONTINUED) FOR THE YEAR ENDED 31 DECEMBER 2021 ObJectlvg5 and activiti95 (ry?ntlnugd) PaTksldg The work of Rornford Baptist Church Houslng Assoclation IParksld8) continued and was led by Romford Bapllst Church Minister Team Leader. The full report for acuvlues of th1$ Home can be seen in its own roport. Tho Bulldlngs We continued to maintain our buildings and ensure that they remainod in good order, Thls Included 80me subslanlial roof repairs. Some outside activiti85 made use of the bulldlng, Including the Blood Donors and some children dance cla888$. We replaced the chairs in the worship area to a Ilghler, mora flexible style to allow the room to b8 u88d In many different ways going forward, we sold the older chalrs to offs8t some of the cosL We continue to be a member church of the BapU$l Union of Great Britain and London Baptists. . Flnanc8 Looklng for4Yard Like many organlsauons we are anticipating the futur& th falth bul also a sense of what wlll need to be dtrrar8nl. We are lis18ning to God and tho community to see what we need lo do to show God's love going forward. We are exGitsd to be planning the opening of a Community Money Advlce Centre. God is still at work. Achlovements and perfomiance a. Ravlew of actfvltles At 31 December 2021 the church membershlp lotaled 204. Sunday attendance grew lo around 200 and about 100 computarsldevSces were tuned in to our livestream services each Sunday during the lockdown measures. Thesa numbers Increased at 8paclal seNices such as Christmas and Ea8t8r. The aCtltI88 of tha church, through its organlsalions, have continued wlth a sense of purpose and en¢ourag8manl. Wo have oxperienced the encouragement of many new people worshlpping th us throughout the year. The church was host to 2 number of occaslons, making the larga worshlp area and exteThsive buildlngs available lo organisalions within the community. Flnanclal revlew . Golng concern Aft8r making appropriate enquiri88, the Trustees have a reasonable expectation that the Charity has adequate resources to contlnue In operational existence for the foreseeable future. For this reason, they conttnue to adopt the going concem basi8 Sn preparing the financial stslements. Further details regarding tha adoption of the oolng concern basis can b8 found in tha accounting t)olicies. Page 6
ROMFORD BAPTIST CHURCH TRUSTEES. REPORT (CONTINUED) FOR THE YEAR ENDED 31 DECEMBER 2021 b. Roserv95 poli In order to mget the running Gosts of the thurch for 12 months beyond th6 balance sheet date. an amount estimated at £370,000 would be required. This amount is comfortably mel by the cash reserves held by tha church. Total income for the year was £375,361 12020.. £381,806) and the total expendlture for th8 year was £395,571 (2020.. £407,147)- The defiGit for the ygar was £20,210 {2020'. £25,341). . Prlnclpal Tlsk5 and unG¢rtaintles Al major insurable TlSks arg subject to norynal Ghurch and employeffs Insurance. Contractual rlsks are revlewad before being gntered into lo assess that they could not significantly impact upon the church's ability to fulfil its oblects'ves. An annual revigw of all areas of risk is undertaken by the trustees In conlunctlon with staff and volunleeTS responsiblo for the area of activity. d. Prfnclpal fundlng The princlpal funding source of tha charity Is the donallons recelved from members of the ¢hur¢h throughout th8 year. Flnan¢lal ¢ontrol Romford Baptist ChurGh - the Charity operates under a scheme of authority del8gation. Disbursement of the Charity assets must be prop9rfy aulhorized in accordance with the agreed procedur8s. Al payment musl hava dual authorizalion. Romford Baptist Church has a Finance Committee that meets three Ilmes a y8ar to revlew proposed annual budget, the final firbancial year stat8menl and the annual audit reports and accounts. Th8 Finance Commlttee r8commend the annual budget. th8 annual 2udlted reports and accounts lo the Romford Baptlst Church Truste88 who recommend th888 at the Church moèfjng. The Flnal Year End Accounts are prepar8d by thé Treasuror, rewewed by the Finance Team, approved by the Trustees before bèlng presanted to the Church Members meoling, and signed off by the Trustees and submitted lo the Charity Commission. The Romford Baptist Church Leadorshlp Team - which includes the Trustees - receives regular management reports and ensurès that thls is representative of the activities within the Charity. Pag9 7
ROMFORD BAPTIST CHURCH TRUSTEES. REPORT (CONTINUED) FOR THE YEAR ENDED 31 DECEMBER 2021 Stru¢turn, governance and management a. Conslltutlon Romford Bapllst Church Is a reglstered charlty, number 1172326, and is constituted under a Trusl deed. b. Mgthods of appolntment or electlon of Trustees The management of the Charfty ts the responslbllity of the Trusteas who are elected and cOpted under the terms of the Trust éeed. c. Organl$atlonal stmctura and declslon.maklng pollcles The deacons ar6 alected by the Church member8 at the Annual G8neral Meeting (AGM) or other church M8mb8rs Meeting as desired. Al the @nd of Decembar 2021. the lead8rship team consisted of iwo full-time pastors, one part time pastor, one full-time Children, Youth and Famili8s worker, one Outreach Leader. one non-slipendiary pastor, officers and deacons. Th8 church also employs a number of full and part time staff lo assist wlth admlnl$tratlon and to run Ihe coffee shop (The Mealing Place). Plans for future perfods The future Is challenglng and exclting., we are expectlng great things of a great God as we reach out into our community in Romford. Wa are remind8d of the naed to pray about how we can, individually and corporately, bring gloryto our Lord and Savlour, J8sus Chrfst. Page 8
ROMFORD BAPTIST CHURCH TRUSTEES. REPORT {CONTINUED) FOR THE YEAR ENDED 31 DECEMBER 2021 ststèmont of Trustaes, responslbllltlos The Trusteas are rasponslble for preparing tho Trustees, Report and the flnanclal statements in accordan¢e wlh appli¢abla law and Unlt8d Kingdom Accounting Standards (United Kingdom Generally Accepted AGcounling PraGli¢e)- The law applicable to charlties in England & Wales requires the Trustees to prepare financial statements for each financlal whlch glve a true and fair view of the stale of affairs of the Charity and of its incoming resources and application of resources, Including its incomg and expenditure, for that period. In preparing Ih8S8 financial statemonls, the Trustees are requlr8d to.. select suitable aCcoUnn9 pollcies and then apply them consislenlly, observe the methods and principles of the Charlties SORP (FRS 102); make judgments and accounting 8stimale5 that are reasonable and prudent; stal8 whethar applicable UK Accounting Standards IFRS 1021 have been followed, subject to any material departures dlsclosed and explained In the finanGial statements., prepare the financial statements on Ihe going concem basls unles8 it is inappropriate lo presume that the Charity will contlnue in business. The Trustees are re8ponslbl8 for keeplng adequate accounting words that are sufflclent to show and explain the Charitls transactlons and dlsclose wlth reasonable accuracy at any time the financlal position of the Charity and enable them lo ensure that the financial statements comply wsth tha Charities Act 2011, the Charity (Accounts and Reports) Regulations 2008 and the provisions of the Trust deed. They are also responsible for safeguarding the assets of the Charlty and henc8 for taklng reasonable steps for the prevention and detection of fraud and other irregularilies. Page 9
ROMFORD BAPTIST CHURCH TRUSTEES. REPORT (CONTINUED) FOR THE YEAR ENDED 31 DECEMBER2021 Dlsclosura of Informatlon to audltors Each of the persons who are Trustees at the lime when this Trustees, Report is approved has Gonfinned that- so far as that Truste8 Is awar8, th@re is no relevant audit information of vthsch the Gharitys auditors are unaware, and thal TTUStee has taken all the steps that ought to have been taken as a Trustee In order to be aware of any relevant audit information and to establish that the charws auditors are aware of that informallon. Audltors The audltors, Venlhams. have indicated their willingness to Gontinug in office. The dosignateil Trustegs will propose a motion reappointing the auditors at a meeling of the Trustees. Approved by order of the members of the board of Trustees and signed on their behalf by.. Trustee Date: 20 September 2022 Page 10
ROMFORD BAPTIST CHURCH INDEPENDENT AUDITORS. REPORT TO THE MEMBERS OF ROMFORD BAPTIST CHURCH Oplnlon We hav& audlted the financial stalemenis of Romford B8ptist Chur¢h (the 'chariV) for the year ended 31 December 2021 which comprisa the Statement of Financlal Activities, the Balance Sheet, the Statement of Cash Flows and the related notes, Inclu(Ilng a summary of signrficant accountlng policies. The financial reportlng fr8mework that has been applled In thelr preparalion is appllcable law and United Kingdom Accounllng Standards, Includlng Flnanclal Reporting Standard 102 The Financial Reporting Standard applicable in the UK and R8publl¢ of Ireland, Iunlted Kingdom G8nerally AGGeptsd AGGountlng PractiGe}. The flnancial ststement8 have been prepared in aGwrdance wilh Accounting and Reportsng by Charttles preparfng Ihelr accounts In accordance with the FingnGial Reportlng Standards apF4icable in the UK and Republlc of Ireland (FRS 1021 In pr8f8rence to the Accounting and Reporting by Charities.. Statement of Recommended PraGti(* Is8ued on 1 AprS12005 whlch 1$ referred to in the extanl regulations bul has been withdrawn. This has been done In order for the aG(x)unts to provide a true and fair view in accordance with the Generally Actxpled A¢Gounling PractSce affeGtNe for reportlng perlods beginning on or after 1 January 2015. In our oplnlon the financial statements.. glve a tNe and falr view of the state of the charftys affalrs a8 al 31 Dec8mber 20218nd of its Incoming resources and application of resources for the year then ended.. have been propeAy prepared in accordance with United Klngdom Generally A¢¢epted Accounting Practice,. and have been prepared in accordance with the requirements of the Chartties Act 2011. Basls for oplnlon We conducted our audil in 8ccordance with Intemational Standards on Auditing (UK) (ISAS (UK}) and applicable law. Our responsibililies under those standards are further described in the Auditors, responsibilities for the audit of the financial statements section of our rpport. We are independent of the charity in accordance With the ethical rgquir8ments that are relevanl to our audit of the financial ststements in tha United ngdOM. Including the Financial Reporting Council's Ethical Standard, and we have fulfilled our other ethlcal responsibilities in accordanc8 with th8se requirements. We believ& that the audit 8denc we have obtained Is suffioient and appropriate to provide a basis for our opinion. Concluslons relallng to golng concern In auditing the financial statements. we have concluded th81 the Trus18es' us? of the going concem basis of accounting in the preparation of the financial stalemenls Is appropriatg. Based on the work we have perfomied. we hav8 not idtntifigd any malerial uncertainties relating to events or conditions that, individually or collecuvely. may cast significant doubt on the Gharivs ability to continue as a golng eonc8m for a period of at least twelve months from when Ihe financial statements are authorised for issue. Our rasponsibllitles and tha wsponsibilitios of the Truste95 With r05pecl to going concern ara described Sn the relevant sections of thls report. Page 11
ROMFORD BAPT18T CHURCH INDEPENDENT AuDORs. REPORT TO THE MEMBERS OF ROMFORD BAPTIST CHURCH (CONTINUED) other Infomiatlon The other Infom1allon comprises the infr>rmation Included in tho Annual Report other than the finanGial statements and our Auditors, Report thereon. The Trustees are responsible for the other information Gonlained wlthin the Annual Report. Our opinion on the financlal statements does not cover the other information and, except to the extent otherwise explicitly stated in our report, we do nol oxpress any form of assurance conclusion thereon. Our responsibility IS to read the other Information and, in doing so, conslder wheth8r the other informallon is materially inconsistent with the financlal statements or our knowledge obtained In Ihe coursg of the audit, or othenMiSÈ appears to be materially misstated. If we identify such material inconslstencleg or apparent materlal misstatements, we are roquired to determine whether this gives rise to a material mlsstatemenl in the financlal statements themselves. If, based on the work we have perforned, we conclude thal there is a material misstatement of this other infonnation, we are requlred lo report that fact. We have nothing to report in this regard. Mattors on which we are requlred to report by ex¢oPtion We hav8 nothing lo report in respect of the following matters where the Charities {knounts and Reports) Regulations 2008 requires us to report io you rf, in our opinion.. the Informatlon given in the TTUStees' Report is inconslstent In any material respect wth fhe financial slatements., or sufficlent accounting records have not been kept., or the financial statements are not in agreement with the accounllng records and retums. or wa have not recelv8d all the information and explanations we r8qulre for our audit. Responslbllltles of trustees explained more fully in the Trustees, ResFionsibiliti8s Ststement, the Twstees ar8 responsible for the preparation of the financlal statements whlth give a true and fair view, and for such Internal control as the Trustees determine is necessary to enablB the preparation of financial statements that are free from material mtsslatement, whether dua to fraud or error. In pr8paring the financlal statements, the Tnjstegs are r8spon8ible for assessing the ¢harWs abllity to contSnue as a golng concem, dlscloslng, as applicable, matters related to golng concern and using the going concem basls of accounting unless thè Trustegs either Intend to liquidat8 the charlty or lo Gease operallons, or have no reallslic alt6matlv6 but to do so. Page 12
ROMFORD BAPTIST CHURCH INDEPENDENT AUDITORS. REPORT TO THE MEMBERS OF ROMFORD BAPTIST CHURCH (CONTINUED) Audltors. responsibilities for the audit of the financial statem•nts We have been appointed as auditor under section 144 of the Charities Act 2011 and report In accordance wlth the Act and relevant regulations made or having effect thereunder. Our objectives are to obtain reasonable assurance about whether the financial statements as 8 whole are free from material misslatemenl, whether due to fraud or error, and to issue an Auditors, Report that Includes our opinion. Reasonable assurance is a high level of assurance, but is not a guardntee that an audlt conducted in accordance with ISAS (UK) will always delect a material misslatemenl when it exisls. Misstatements can ari8e from fraud or error and are considered material rf, individually or in the aggregate, they could reasonably be expected to influgnce the economic decisions of users taken on the basis of these financlal ststements. Irregularities, including fraud, are instances of non-compliance with laws and regulations. We design procedures in line with our responsibilities, outlined above, to detect ma18rial misstatements in respect of irregularities, including fraud. The extent to which our procedures are capabl8 of detecting irregularities, including fraud is detailed below: Based on our discussions with the charitVs managem&nt and the Truste&s, we identified Ihal the ft)Ilowing laws and regulations are significant lo the entily. Thos8 laws and regulations considered to have a direct effect on the financial statements include UK financial r8POrt5ng standards and Charity Law. Those laws and regulations for which non.compliance may be fundamental to the operating aspects of the charity and Iherefore may have a malerial 8ffed on the financial statements Include compliance wth the charitsble objectives, public benefic fundraising regulations, safeguarding and hgallh and safety legislallon. These matters were discussed amongst the engagemenl team al the planning stago and tho tsam remained alert to non-compliance throughout the audlt. Audit prgG8dures undertsken in response to tha potential risks relating to legUlarltieS (which include fraud and non-GomplianGe with laws and regulations) comprised of.. enquiries of management and the Trustees as lo whether Ihe ontity complies wlth such law8 and regulations., enquiri8s wth the same concerning any actual or potential litigation or clalms,. Inspection of r818vant key risk assessments and inspection reports; r8view of Trustee meeting minutes,. testing the appropriateness of loumal entrles: and the performance of analytical review to identify unexpgGled movemenls in aCunt balances whlch may be indicative of fraud. No instances of material non-complianGe were identified. H¢)wgv?r. the lik81ihood of detecting irregularrtles, including fraud, 15 limited by thg inhgrent difficulty in dgle¢ting irregularities, the effecb'vèness of the 8ntlWs controls, and the nature, liming and extgnt of the audit proGedurgs performed. Irregularttles that result from fraud might be inherently more difficull to deleGt than IegUlarlo$ that result from error. As explalned above, there is an unavoidable risk thal material misstatements may not be dolecled, even though the audll has been planned and parfomied in accordance with ISAS (VK). A further description of our rosponsibilitigs for the audit of the financial staloments is locatgd on the Financial R8POrtlng Council's website at.. www.frc.o .uklauditorsres nsibilitigs. This dgscription forms part of our Audltorg, Report. Page 13
ROMFORD BAPTIST CHURCH INDEPENDENT AUDITORS. REPORT TO THE MEMBERS OF ROMFORD BAPTIST CHURCH (CONTINUED) Usg of our roport This port is mad8 501ely to the charltys trustees, as a body, in accordance th Part 4 of the Charities {Aount$ and Reports) Regulations 2008. Our audit work has been undertaken so that we might state to the charitys trustees those matters we are required to State to them in an Auditors. Report and for no other purpose. To the fullest exlenl p8rmitled by law, we do not accept or assume responsibllity to anyone other than the charity and its trustees. as a body, for our audit work, for this report or for Ihe opinlons we havo formed. Venthams Chartered Accountants Stslutory Audhor Millhouse 32- 38 Ea81 Street Rochford Essex SS4 1DB Date.. 22 September 2022 Venthams are ellglble to act as auditors in terms of sectlon 1212 of the Companies Act 2006. Page 14
ROMFORD BAPTIST CHURCH STATEMENT OF FINANCIAL ACTIVITIES FOR THE YEAR ENDED 31 DECEMBER2021 Unrestrl¢ted funds 2021 Restrlctod funds 2021 Total funds 2021 Tot81 funds 2020 Note Income from: Donatlons and legacles Charitable activities Investments other incom8 237,383 112,919 20,595 3,714 750 238,133 112.919 20,595 3,714 229,160 101,857 17,119 33,670 Total InGorne 374,611 750 375,381 381,806 Expgndituro on: Charitable activities 395,116 395,571 407.147 Total gxponditurè 395,116 455 395,571 407,147 Net movement In funds 120,505) 295 (20,2101 (25,341) Reconclllatlon of funds.. Total funds brought forward Net movement in funds 7,631,554 (20.505) 63,423 295 7,694,977 120,210> 7,720,318 (25,341) Total funds carrled fonvard 7,611,049 63,718 7,674,767 7,694,977 Page 15
ROMFORD BAPTIST CHURCH BALANCE SHEET FOR THE YEAR ENDED 31 DECEMBER 2021 2021 2020 Flxed asso15 Tanglble assets 13 6,802,707 6.790.923 6,802,707 6,790,923 Currenl assets Debtors Cash al bank and in hand 14 15,674 878,074 24,751 894,784 893.748 919,535 Creditors.. amounts falling due wthin one year 15 (21,688) (15,481) Net current assets 872,060 904,054 Total ass¢ts less Curront Ilabllltlos 7,674,767 7,694,977 Total net assets 7,674,767 7,694,977 Charlty funds Restricted funds UnrestriGted funds 16 16 63,718 7,611,049 63,423 7,631,554 Total funds 7,674,767 7,694,977 The financial ststements were approv8d and aulhorfsed for Issue by the Trustees and signed on thelr behalf by.. Trustee Dale.. 20 September 2022 Page 16
ROMFORD BAPTIST CHURCH NOTES TO THE FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 DECEMBER 2021 GgnOTal Informatlon The charity was establlshed a8 a CIO on 29 MarGh 2017 and was registered with the Charity Commlssion under Gharity number 1172326. The charity commenced trading In 1 June 2018 followng the transfer of the assels of Romford Baptist Church an unlncorporaled charity. Accountlng pollcles 2.1 Bas1$ of preparation of financlal statements The fin8nclal statements have been prepared in accordance with the Charities SORP (FRS 102) - Accounting and Reporting by Charities.. Statement of Recommended Practice appliGable to charlues preparing their accounts in accordance with the Financial Reporting Standard applicable in the UK 2nd Republic of Ireland (FRS 102) (effective 1 January 2015), the FinanGial Reporting Standard applicable in the UK and Republic of Ireland IFRS 102) and the Charilie5 Act 2011. The financial statements have been prepared lo give a 'true and fairf vigw and have departed from the Charities {Accounls and Reports) Regulations 2008 only to Ihe extent rgquired to prowde a 'lrue and faiff view. This departure has involved following the Charities SORP IFRS 1021 published on 16 July 2014 rather than the Accounting and Report5ng by chariti.. Statement of Recomfflgnded Practice effective from 1 Aprfl 2005 which has since been wthdrawn. Romford Bapligt Church meets the definition of a public b9nefft entity under FRS 102, Assets and liabilities are initially recognised at historical cost or transaction value unless olherwse stated in th8 relevant accounting policy. 2.2 Golng concorn There are no materFal uncertainlles regarding the charitys abllty to continue. Therefore the accounts are preparod on a going concem basis. 2.3 Income All income is recognised once the Charity has entillomenl to the income, it Is probable that th8 income will be recelved and the amount of incom8 rereivable can bo measured rellably. Income tax recoverablg in rolation to investment inwmg is recognised al th8 tlme the investment income is recelvable. Other income Is recognised in the period in which it is receivable and to the axtent the goods have been provlded or on completion of tha servico. 2.4 Expanditurn Expenditure is rocognised once there is a legal or constructive obligallon to transfer economlc banefil to a third party, it is probable that a transfer of economic benefits wll be r8quired in settlement and the amount of the obligation can be mgasured reliably. Expenditur8 Is classified by activity. The costs of each activity are made up of the totsl of direct costs and shared costs, including support costs involved in undertaking each activity. Direct costs attributabl8 to a singlg activity are allocal8d dlreclly to that activity. Shared costs whith contribute to more than on8 activity and support costs whlch are not allributable to a slngla adivity are apportioned be88n those activities on a basls consistent with the use of resources. Contral staff costs are allocated on tho basis of tima spent. and d8preGiation charges allocated on thg Portion of the asset's use. Expendibjre on Gharitable activities is Incurred on dlrectly undertaking the activlti8s 1¢h further the ChartW$ obl8¢tives, as well as any assoclatgd support costs. Page 17
ROMFORD BAPTIST CHURCH NOTES TO THE FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 DECEMBER 2021 A¢countlng pollcles (contlnuodl 2.4 Expondllure (contlnued> Grants payable are charged in th8 year when the offer is made except In those cases whero the offer is condttsonal, such grants being recognised as expenditure when the conditions attaching are fulfilled. Grants offered subject to conditions whlch have not been met at the year end are noted as a commitrnenl, but not accrued as exp8ndiknre. l expenditure Is Indusive of Irrecoverable VAT. 2.5 Interest rgcefvablo Interest on funds held on deposlt is InGluded when r8calvable and the amount can be measured reliably by the Charfty. thls Is normally upon nolrficatlon of the Interest paid or payable by the institution with whom the funds are deposited. 2.6 Tanglble flx8d 888ets and depreGlatlon Tangibl& fixed assets are inilially recognised al cost. After recognition. under th8 cost model, tangible fixed assets are measured at cost less accumulated depreciation and any accumulated impairment losses. All costs Incurred to brlng a tanglble flxed asset into Its inl6nded working condition should be Induded In the measurement of cost. Depre¢ialion is charged so as to allocate the ¢o$t of tangible fixed assets less their resldual value over their estimated useful INes. Depreciation 58 provided on the followng bases.. Fr88hold property Long-term leasehold property Fixtures and ffttings not depreciated not depreciated straight line 3 to 5 years 2.7 Debtors Trade and other debtors are recognised al the settlement amount after any trade discount offered. PpaYmentS are valued at the amount prepaid net of any trade discounts due. 2.8 Cash at bank and In hand Cash at bank and in hand includes cash and short-temi highly liquid investments with a short maturity of three months or less from the d8te of acqulshion or opening of the deposlt or slmilar account. 2.9 Llabilltles and provlslons Llabilities are recognlsed when there 1$ an obligation at the B8lanc8 Sheet date as a result of a pasl evont, it is probable that a transfer of economic benefit will be requlred in settlement, and the amount of the settlement can be estimÉled reliably. Liabilities are recognised at the amount that the Charity antlclpates it will pay to settle tha debt or tho amount it hag recelved 2s advanced payrnents for the goods or services it must provide. Provlsions are measured at the best estimate of the amounts required to sellle the obligation. Where the effect of the time value of money is material. the prowsion is based on the present value of those amounts, discounted at the pre-tsx discount rate that reflects the risks specific to the liability. Th8 unwindlng of Iho discount is recognised In the Statement of Financial Activrties as a finanGe cost. Page 18
ROMFORD BAPTIST CHURCH NOTES TO THE FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 DECEMBER 2021 Accountlng pollcles (contlnuéd) 2.10 Flnanclal Instruments The Charlty only has financial assets and financlal Ilablllties of a kind that qualffy as baslc flnanclal instruments. Baslc financlal instruments are initially recognisèd at transaction value and subsequently measured at Ihelr $8ttlament value wllh the excepllon of bank loans whlch are subs8quently measured at amortised cost using the effective interest m8th0d. 2.11 Penslons The Charfty operates a defin9d contribullon pen8ion scheme and the penslon Gharge ropresents the amounts payabla by the Charity to the fund in respect of Ihe year. 2.12 Fund accountlng General funds ara unrestricted funds which ar8 available for use at the discretion of th8 Trusteès in furtheran¢e of the general objectives of tha Charity and which have not been deslgnated for other purposes. Designated funds comprls8 unr8slrlcl8d fijnds that have been set aslde by the Trustees for particular purposes. Tho alm and u88 of each designaled fund is set out In the notes to the financial statements. Restricted funds are funds whlch are to be used In accordance th $pecifl¢ restrlctions imposed by donors or which have beèn ralsed by the Charity for particular purposes. The costs of raising and admlni81ering such funds are charged against the speclflG fund. The aim and use of each restricted fund Is sel out in the notes to the flnancial statements. Inveslm6nt InGome. gains and Ios888 8re alloc8ted to the appropriate fund. Pag8 19
ROMFORD BAPTIST CHURCH NOTES TO THE FINANCIAL STATEMEKrs FOR THE YEAR ENDED 31 DECEMBER 2021 lThGorne from donatlons andlogacles Unrestricted RestTiCtgd funds funds 2021 2021 Total funds 2021 Total funds 2020 Donations 237,383 750 238,133 229, 160 Tolal 2020 228,660 500 229,160 Income from charitable actlvlties Unrestrl¢tod funds Total funds 2021 Total funds 2020 2021 Income fmm charitable activtknes - Church 112,919 112,919 101,857 Total 2020 101.857 101,857 Inv08tment Incom¢ Unrestrlctèd funds 2021 Total funds 2021 Total funds 2020 Investment income - local investment properties Investment Incorne- local cash 14,900 5,695 14,900 5,695 14,400 2,719 20,595 20,595 17,119 Total 2020 17.119 1T,119 Page 20
ROMFORD BAPTIST CHURCH NOTES TO THE FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 DECEMBER2021 Othor Incomlng resourGoS Unrestrlcted funds 2021 Total funds 2021 Total lunds 2020 Govornment furlough Income 3,714 3,714 33,670 Tot812020 33,670 33.670 Analysls of grants Grants to Instltutlons 2021 Tolal funds 2021 Total funds 2020 Granls, Church 23,550 23,550 27,000 Total 2020 27.000 27,000 The Charity has made the followng material grants to institutions during the year: 2021 2020 Name of Instltutions Graceworks Baptist Unlon Home Mission BMS World Mission Operation Mobilisatlon Church1V23 1,750 10,000 10.000 1,800 2,000 10,500 10,500 2,000 23,550 27,000 Paga 21
ROfvIFORD BAPTIST CHURCH NOTES TO THE FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 DECEMBER 2021 Analysls of expenditurg on charltablo aotfvltles Summary byfund typo UnrestrlGted Restrlcted funds funds 2021 2021 Total 2021 Total 2020 Church 395.116 455 395,F11 407,147 Total 2020 406,647 500 407, 147 Analysls of expenditure by actlvities A¢tlvltloS undortaken dlrectly 2021 Grant ndlng of actlvltlos 2021 Support osts 2021 Total funds 2021 Total funds 2020 Church 242.557 23,550 129.464 395.571 40T,147 Total 2020 234,018 27,000 146.129 407,147 Analysls of dlrect costs Total funds 2021 Tot81 funds 2020 Church 2021 staff costs Church housing expenses Travel 185,090 18,464 428 8.516 30,059 185,090 18,464 428 8,516 30,059 184,814 15,462 382 Other mlnisterial costs Mission and outreach 10,966 22.394 242,557 242,557 234,018 Tot812020 234,018 234,018 Page 22
ROMFORD BAPTIST CHURCH NOTES TO THE FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 DECEMBER 2021 Analysis of gxpgndlture by actlvltles {¢ontlnuad> Analysis of support costs Total funds 2021 Total funds 2020 Church 2021 Staff costs Depreclatlon Church premises Church office expenses Auditors. remunaration Legal fees Lossl{profrt) on disposal 37,011 19.341 30.048 40,703 6,642 719 (5,000) 37,011 19,341 30,IM8 40,703 6,642 719 (5,000 45,924 14.703 26.276 44,579 6.330 8,317 129,484 129,464 146, 129 Totsl 2020 t46,129 146,129 10. Audltors. remuneration The auditors, remun8ration amounts to an auditor fe8 of £6,642 (2020 - £6,330), and accountancy of £ - 12020- £ -). 11. Stsff costs 2021 2020 Wages and salari6S Social securty costs Contributlon to dgfined contributlon penslon schem8S 184,972 11,456 25,673 196.163 10,917 23,658 222,101 230.738 The avarage number of persons employed by the Charity during the year was as follows.. 2021 No. 2020 No. Employees 12 Page 23
ROMFORD BAPTIST CHURCH NOTES TO THE FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 DECEMBER 2021 11. staff costs (contlnuedl No employee rec8Sved ramun8ration amounting lo more than £60.000 in elther year. 12. Trustees. stlpènd and oxpenses During the year, salaries have b@en paid to Rev l Bunce £39.199 (2020.. £38,400), Rev V Bunce £29.399 12020.. £28,800) and Rev J Loveard £14,73112020.' £14,030), for ministerial seNic8s. Employers pension contributions totalling £14,554 (2020: £18.798) were paid on their behalf. Durlng the year ended 31 December 2021. expenses tr)talling £6,358 {2020'. £6,093) wer8 reimbursed or paid direGtly to 3 Trustees. 13. Tanglblo Ilxed assets Long-torm leasehold Flxturos and proporty flttlngs Freehold property Total Cost or valuation At 1 January 2021 Additions Disposals 6,577,314 188,000 86,447 31.125 (770 6,851,761 31,125 17701 At 31 December 2021 6.577,314 188,000 116,802 e.882,116 Dapracialion At 1 January2021 Charge for the year On disposals 60.838 19,341 {770) 60,838 19.341 (770) At 31 December 2021 79,409 79,409 Not book value At 31 December 2021 6,577,314 188,000 37,393 6,802,707 At 31 December 2020 6,577,314 188,000 25,609 6,790,923 Page 24
ROMFORD BAPTIST CHURCH NOTES TO THE FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 DECEMBER 2021 14. Debtor8 2021 2020 Dug wlthln one yoar Trad8 d6blor8 Other debtors Prepayrnents and accrued income 492 9,021 11,045 4,685 10,387 4,795 15,674 24, 751 13. Creditors: Amounts falllng du? wlthln one year 2021 2020 Trade Creditors Other taxation and soclal securtty Accruals and deferred Inwme 10,554 4,492 6,642 9,151 6.330 21,688 15,481 Pagè 25
ROMFORD BAPTIST CHURCH NOTES TO THE FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 DECEMBER2021 18. stalemenl of funds stalemenl of funds - Gunont yoar Balance at 31 December 2021 Balance at 1 January 2021 Transfers Inlout Incorne Expgndlture Unrestrfcted fund8 Designated funds Fixed asset fund Conungency fund Junction Road 6,790.923 68,090 45,170 11,784 6,802,707 68.090 45,170 6.904,183 11,784 6,915,967 Gonoral funds General fund Auxiliaries fund Church group acliwty funds 712,072 7,789 7,510 363.OS7 1385,074) (14,784) 675,271 7,789 12,022 11.554 (10,042) 3,000 727,371 374,611 {395,1161 (11,784) 695,082 Total Unreslrlcted fvnds 7,631,554 374.611 1395,116) 7,611,049 Restrlcted funds Benevolent Fund Future project fund Energise fund Jack Pglchey Fund 252 60.000 446 2,725 252 60,000 446 3,020 750 (455) 63.423 750 (455) 63.718 Total of funds 7,694,977 375.361 1395,571) 7.674,767 Page 26
ROMFORD BAPTIST CHURCH NOTES TO THE FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 DECEMBER 2021 16. Statement of funds (contlnuedl Ststement of funds- prfor year B818nce al 31 December 2020 Balance al l January 2020 Transfers in/oul Income Expenditure Unreslrlcted funds Deslgnated funds Fixed asset luThJ Contingency fund Junction Road 6,799,215 68,090 45,170 (8,292) 6.790,923 68,090 45,170 6,912,475 (8,292) 6,904,183 Ggneral funds Gener81 fund Auxiliaries fund Church group acuvlty funds 724,355 7, 789 12,276 371,865 (398,608) 14,460 712,072 7,789 7.510 9,441 (8.039) (6,168) 744,420 381,306 (406,647) 8,292 727,371 Total Unre8trfcted fvnd8 7,656,895 381,306 (406,647) 7,631,554 Rostrlctod funds Benevolent Fund Future project fund Energise fund Jack Petch8y Fund 252 60,000 446 2, 725 252 60,000 446 2,725 (500) 63,423 500 (500) 63,423 Total of funds 7,720,318 381.806 (407,147) 7,694,97T Page 27
ROMFORD WTIST CHURCH NOTES TO THE FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 DECEMBER 2021 17. Summary of funds Surnmary of funds - Gurrent year Balance at Balance at 1 January 2021 31 Transfers Inlout December 2021 Incomg Expendlture Designated funds Ganeral funds Restricted funds 6,904,183 727.371 63,423 11,784 {11,784) 6,915.967 695,082 63,718 374,611 750 {395,1161 1455) 7,694.9 375.361 (395,571) 7,674,767 Summary of funds . prlor year Balancg at 31 Decemb8r 2020 Balance al 1 January 2020 Transfers in/oul Incom8 Expendlture Deslgnaled funds Gener81 funds Restriclod funds 6,912,475 744,420 63,423 (8,292) 6,904, 183 8,292 727,371 63,423 381,306 500 (406,647) (500) 7,720.318 381,806 (407,147) 7,694,977 18. Analy818 of net assets betrween funds Analy818 of net assets between funds . current year Unrestrictod Restricted funds funds 2021 2021 Total funds 2021 Tangible fixed assets Current assots 6,802.707 830,030 {21,688) 6,802,707 893,748 (21,688) 63,718 Creditors due wthin ona year Total 7,611,049 63,718 7,674,767 Pagè 28
ROMFORD BAPTIST CHURCH NOTES TO THE FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 DECEMBER 2021 18. Analys1¥ of net as8et8 between funds Iconllnuod) Analysls of net assets between funds . prlor year Unrestrlct8d fvnds 2020 Restricted funds 2020 Total funds 2020 Tangible fixed assets Current assets Creditors due wtthin on8 year 6,790,923 856,172 (15,481) 6,790,923 919,535 (15,481) 63,423 Total 7.631,554 63,423 7,694,977 19. Ponslon commltments The chartty opemt8s a deflned conlrlbutlon pension sch6m8. The assets of the scheme are held separately from those of the charfty In an Indepgndentty administered fund. The pension cost charge represents Gontributlons payable by th8 charty to the fund and amounted to £25,673 (2020.. £23.658). 20. Related party transactlons During the year, income of £64,25012020: £63,324) wa8 recelved from Romford 8aptisl Church Hou$lng Association Llmited. a charity under common control. in respect of pastoral services. During the ygor payments of £23.000 {2020.' £24,999) were made to Romford Baptlsl Church Housing Association Limited in respect of book-keeping and premises management. At the balance shget date £132 (2020.. £8.6611 was recelvable from RBCHA and is included wthin trade debtors and £2,219 (2020- £7,003) was payable to RBCHA andlg included within trade creditors. Page 29